Best Financial Advisors in Godalming

Making the most of annual tax allowances is a cornerstone of planning at this time of year. With regards to the capital gains tax allowance, it's a chance to take investment 'profits' tax free. By not using them, a higher rate taxpayer could be out of pocket to the tune of £2,460 each year - it's very much a 'use it or lose it' allowance that cannot be carried forward. Although capital gains tax as we know it was threatened by the recommendations of the Office for Tax Simplification in 2020, the Chancellor decided in the Autumn Budget 2021 that there were to be no changes. As far as tax year end planning is concerned, it's business as usual.